By Dipo Olowookere
Fresh 1.888 billion ordinary shares of Ellah Lakes have been listed on the trading platform of the Nigerian Stock Exchange (NSE).
The additional shares of the company were admitted on the local bourse yesterday and were created after the firm completed the 100 percent stake in Telluria Limited.
With the fresh listing, the total issued and fully paid up shares of Ellah Lakes has now increased from 120 million units to 2 billion units.
This has raised the total market value of the company on the stock exchange to N8.520 billion, with the shares traded at N4.26k per unit.
Confirming the listing, Head of Listings Regulation Department at NSE, Ms Elizabeth Ekpo, stated that, “Dealing Members are hereby notified that additional 1,880,000,000 ordinary shares of Ellah Lakes Plc (Ellah Lakes or the Company) were listed on the Daily Official List of The Nigerian Stock Exchange today, 17 June 2019.
“The additional shares listed arose from the 1,880,000,000 ordinary shares of 50 Kobo each issued to the shareholders of Telluria Limited, as consideration for the acquisition of the entire issued shares of Telluria Limited by Ellah Lakes.
“With the listing of the additional 1,880,000,000 ordinary shares, the total issued and fully paid up shares of Ellah Lakes has now increased from 120,000,000 to 2,000,000,000 ordinary shares.
Adedapo Adesanya